The Hoste at Burnham Market is sold in multi-million pound deal
Popular historic hotel The Hoste in Burnham Market has been sold in a multi-million pound deal.
It has been bought for £8.65 million by the City Pub Group, which will take over the running of the hotel from May 1. This figure may yet increase due to incentives based around sales.
City Pub Group's executive chairman Clive Watson has said that The Hoste is making over £4 million revenue and that it is a site which "has lots of potential going forwards".
The City Pub Group was founded in late 2011, and now has a growing portfolio of 44 pubs across the southern half of England and Wales. In Norwich it owns the Georgian Townhouse and St Andrew's Brew House.
Last year the business saw a sales growth of 22 per cent, which it hopes to see increase this year.
The Hoste, a 53-bedroom boutique hotel and spa, was taken over by Brendan and Bee Hopkins from their friend Jeanne Whittome in May 2012.
Jeanne and her late husband, Paul, who bought the 17th century coaching inn in 1990, turned it from a humble village pub into an award-winning hotel recognised as being one of the best of its kind in the country.
Mr Hopkins was close friends with Mr Whittome and supported him during his battle against cancer.
Among the celebrities who have been customers at The Hoste are Stephen Fry and Amanda Holden.